Teva Pharmaceutical Industries (NYSE:TEVA) Upgraded to Buy at StockNews.com

Teva Pharmaceutical Industries (NYSE:TEVA) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Wednesday.

Several other equities research analysts have also issued reports on the stock. Piper Sandler lifted their price target on shares of Teva Pharmaceutical Industries from $23.00 to $30.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Barclays reduced their target price on shares of Teva Pharmaceutical Industries from $28.00 to $26.00 and set an “overweight” rating on the stock in a report on Thursday, January 30th. Bank of America dropped their price target on shares of Teva Pharmaceutical Industries from $23.00 to $20.00 and set a “buy” rating on the stock in a research report on Thursday, March 6th. Finally, UBS Group dropped their price target on shares of Teva Pharmaceutical Industries from $30.00 to $27.00 and set a “buy” rating on the stock in a research report on Thursday, January 30th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $23.43.

Teva Pharmaceutical Industries Price Performance

TEVA stock traded down $0.20 during mid-day trading on Wednesday, hitting $16.29. The stock had a trading volume of 9,377,416 shares, compared to its average volume of 9,421,837. The company has a current ratio of 0.98, a quick ratio of 0.75 and a debt-to-equity ratio of 2.97. Teva Pharmaceutical Industries has a 52 week low of $12.51 and a 52 week high of $22.80. The firm has a market capitalization of $18.46 billion, a P/E ratio of -11.23, a P/E/G ratio of 1.44 and a beta of 0.82. The firm has a fifty day simple moving average of $17.99 and a 200 day simple moving average of $18.25.

Teva Pharmaceutical Industries (NYSE:TEVA) last released its earnings results on Wednesday, January 29th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.69 by $0.01. Teva Pharmaceutical Industries had a negative net margin of 9.91% and a positive return on equity of 42.46%. As a group, research analysts forecast that Teva Pharmaceutical Industries will post 2.5 EPS for the current year.

Insider Buying and Selling at Teva Pharmaceutical Industries

In other news, Director Roberto Mignone sold 286,000 shares of the company’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $22.01, for a total value of $6,294,860.00. Following the completion of the sale, the director now owns 695,000 shares in the company, valued at $15,296,950. This represents a 29.15 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.55% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Teva Pharmaceutical Industries

Several institutional investors have recently added to or reduced their stakes in TEVA. Atria Investments Inc grew its position in Teva Pharmaceutical Industries by 135.4% during the third quarter. Atria Investments Inc now owns 30,856 shares of the company’s stock valued at $556,000 after buying an additional 17,746 shares during the period. Oppenheimer & Co. Inc. lifted its holdings in Teva Pharmaceutical Industries by 68.9% during the third quarter. Oppenheimer & Co. Inc. now owns 32,402 shares of the company’s stock valued at $584,000 after purchasing an additional 13,215 shares during the last quarter. CIBC Asset Management Inc lifted its holdings in Teva Pharmaceutical Industries by 5.7% during the third quarter. CIBC Asset Management Inc now owns 105,463 shares of the company’s stock valued at $1,900,000 after purchasing an additional 5,713 shares during the last quarter. Claro Advisors LLC purchased a new stake in Teva Pharmaceutical Industries during the third quarter valued at about $227,000. Finally, Thrivent Financial for Lutherans lifted its holdings in Teva Pharmaceutical Industries by 21.8% during the third quarter. Thrivent Financial for Lutherans now owns 224,511 shares of the company’s stock valued at $4,046,000 after purchasing an additional 40,218 shares during the last quarter. Institutional investors own 54.05% of the company’s stock.

Teva Pharmaceutical Industries Company Profile

Teva Pharmaceutical Industries Limited develops, manufactures, markets, and distributes generic medicines, specialty medicines, and biopharmaceutical products in North America, Europe, Israel, and internationally. It offers generic medicines in various dosage forms, such as tablets, capsules, injectables, inhalants, liquids, transdermal patches, ointments, and creams; sterile products, hormones, high-potency drugs, and cytotoxic substances in parenteral and solid dosage forms; and generic products with medical devices and combination products.